Ocean Capital Management LLC decreased its position in shares of Tesla Inc (NASDAQ:TSLA) by 15.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,402 shares of the electric vehicle producer’s stock after selling 611 shares during the period. Tesla makes up approximately 0.6% of Ocean Capital Management LLC’s investment portfolio, making the stock its 27th biggest position. Ocean Capital Management LLC’s holdings in Tesla were worth $760,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of TSLA. Janus Henderson Group PLC grew its position in Tesla by 89.0% in the first quarter. Janus Henderson Group PLC now owns 126,851 shares of the electric vehicle producer’s stock worth $35,496,000 after acquiring an additional 59,736 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Tesla in the first quarter worth about $92,000. Private Ocean LLC grew its position in Tesla by 1,413.3% in the first quarter. Private Ocean LLC now owns 227 shares of the electric vehicle producer’s stock worth $64,000 after acquiring an additional 212 shares in the last quarter. Fort Point Capital Partners LLC grew its position in Tesla by 8.1% in the first quarter. Fort Point Capital Partners LLC now owns 1,660 shares of the electric vehicle producer’s stock worth $465,000 after acquiring an additional 124 shares in the last quarter. Finally, Noven Financial Group Inc. purchased a new position in Tesla in the first quarter worth about $245,000. Hedge funds and other institutional investors own 54.88% of the company’s stock.
Several analysts have issued reports on TSLA shares. Berenberg Bank reissued a “buy” rating on shares of Tesla in a research note on Friday, June 14th. Wedbush reissued a “hold” rating and issued a $230.00 price objective on shares of Tesla in a research note on Thursday, July 25th. UBS Group set a $160.00 price objective on shares of Tesla and gave the stock a “sell” rating in a research note on Thursday, July 25th. Canaccord Genuity decreased their price objective on shares of Tesla from $394.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Citigroup decreased their price objective on shares of Tesla from $238.00 to $191.00 and set a “sell” rating for the company in a research note on Wednesday, May 22nd. Eighteen analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $269.53.
In other Tesla news, Director Robyn M. Denholm bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average cost of $232.72 per share, for a total transaction of $232,720.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $232,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Kirkhorn sold 150 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $255.68, for a total transaction of $38,352.00. Following the transaction, the chief financial officer now owns 9,962 shares of the company’s stock, valued at $2,547,084.16. The disclosure for this sale can be found here. Insiders have sold 78,916 shares of company stock valued at $15,785,800 over the last 90 days. 24.40% of the stock is currently owned by insiders.
Shares of TSLA traded down $7.21 during trading hours on Thursday, reaching $212.41. 6,188,146 shares of the company traded hands, compared to its average volume of 7,863,795. The company has a market capitalization of $41.02 billion, a PE ratio of -37.13 and a beta of 0.60. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 1.71. Tesla Inc has a 12-month low of $176.99 and a 12-month high of $379.49. The stock has a fifty day simple moving average of $237.19.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($0.76). The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. Tesla’s quarterly revenue was up 58.7% compared to the same quarter last year. During the same period last year, the firm earned ($3.06) earnings per share. On average, analysts anticipate that Tesla Inc will post -7.51 EPS for the current fiscal year.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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